CoreFirst Bank & Trust Invests $56,000 in Summit Materials, Inc. (NYSE:SUM)

CoreFirst Bank & Trust acquired a new stake in Summit Materials, Inc. (NYSE:SUM) in the fourth quarter, Holdings Channel reports. The firm acquired 1,100 shares of the construction company’s stock, valued at approximately $56,000.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Summit Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,373,001 shares of the construction company’s stock valued at $626,074,000 after buying an additional 56,602 shares during the period. Principal Financial Group Inc. raised its stake in shares of Summit Materials by 1.8% in the third quarter. Principal Financial Group Inc. now owns 5,289,410 shares of the construction company’s stock valued at $206,445,000 after acquiring an additional 94,694 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Summit Materials by 0.3% in the third quarter. Geode Capital Management LLC now owns 2,789,212 shares of the construction company’s stock valued at $108,885,000 after purchasing an additional 9,566 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Summit Materials by 21.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,752,993 shares of the construction company’s stock worth $68,419,000 after purchasing an additional 313,957 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in Summit Materials during the 4th quarter worth about $79,094,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SUM. Longbow Research reiterated a “neutral” rating on shares of Summit Materials in a research note on Tuesday, November 26th. Loop Capital reiterated a “hold” rating and issued a $52.50 price target (down previously from $54.00) on shares of Summit Materials in a research note on Tuesday, November 26th. Wolfe Research reissued a “peer perform” rating on shares of Summit Materials in a research report on Tuesday, November 26th. StockNews.com initiated coverage on shares of Summit Materials in a research report on Wednesday, March 19th. They set a “sell” rating for the company. Finally, Jefferies Financial Group lowered Summit Materials from a “buy” rating to a “hold” rating and dropped their target price for the company from $58.00 to $52.50 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.67.

Summit Materials Stock Performance

NYSE SUM opened at $52.54 on Wednesday. The company has a fifty day moving average of $52.45 and a two-hundred day moving average of $48.19. The company has a market capitalization of $9.23 billion, a PE ratio of 64.07 and a beta of 1.13. Summit Materials, Inc. has a 1 year low of $34.64 and a 1 year high of $54.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.10 and a quick ratio of 2.48.

Summit Materials Company Profile

Summit Materials, Inc is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada.